The Empirical Study Of The Relationship Between Corporate Social Responsibility Disclosure And Corporate Fiscal Performance

With our society is becoming increasingly emphasize on corporates' shouldering the social responsibility, the disclosure of social responsibility is becoming a new norm.1526 companies disclosed social responsibility report in 2014, a number much higher than that in 2013, which occupied more than 50% of the listed companies. These 1526 reports include finance, energy, chemistry, telecommunication, and construction industries. Social responsibility information disclosure is becoming a new requirement towards enterprises nowadays. The paper analyses the relationship between social responsibility information disclosure and fiscal performance.First of all, the paper concludes the study of former researchers, and depicted the status quo of social responsibility information disclosure. Secondly, the paper describes three theories related to the paper including social responsibility theory, interest-related theory and corporate life cycle theory. The relationship of these three theories and fiscal performance is also discussed in this part. Thirdly, the paper selected 115 companies of real-estate industry in He Xun social responsibility information database, and selected their data from 2011 to 2014 as study samples. After acquiring the social responsibility disclosure index and fiscal data, the paper uses SPSS and EXCEL as tools, and divided the samples into three life stage. The paper analyses the relationship between social responsibility information disclosure and fiscal performance. The study shows: social responsibility information disclosure index of corporations in growing stage and mature stage are positively related to fiscal performance, and the degree of the latter category is much deeper than the former one. Social responsibility information disclosure index of corporations in declining stage is negatively related to fiscal performance.The creative point of the paper is the use of corporate life cycle perspective. This perspective doesn't view enterprises of all kinds as a whole, but divided different stages with the method in industry economics. This helps to combine enterprises in different stages with its social responsibility information disclosure, and makes it an approach of improving fiscal performance. This shows some guidelines for real-estate enterprises in China.